Liabilities can be best described as:
A)The amount of expenses over the past year.
B)The amount expected to be distributed to stockholders.
C)The amount owed to creditors.

Question

Quizplus · Accepted Answer

Liabilities refer to the amount owed to creditors, including any debts or obligations that the company has incurred. It does not include past expenses or amounts to be distributed to stockholders.

Liabilities Can Be Best Described As